Alabama's economy cooled in 2007, analysis shows

Alabama's economic growth last year trailed the nation's, according to an analysis released today.

The U.S. Bureau of Economic Analysis said Alabama's gross state product -- the sum of all the goods and services produced here -- rose 1.8 percent in 2007. That's lower than the U.S. figure of 2 percent registered last year.

Alabama's growth rate has been cooling over the past several years, with bigger GSP expansions in 2006 (2 percent), 2005 (3.2 percent) and 2004 (5.2 percent), according to the agency's data.

Alabama's GSP growth rate in 2007 ranked 27th among the states, and it did outpace some of its Southeastern neighbors.

The Bureau of Economic Analysis measured the value of Alabama's economy at $165.8 billion last year.